In this modern world, the treachery of the elite is much more
sophisticated than the wisest of yore. The elite are using the system to
cheat and scam against the interest of the ordinary men in the street.
Just read in the media today, ‘JP Morgan set to pay record S16.1b in
deal’. What is wrong with this statement? Everything is wrong with this
statement. It is trickery, treachery, deception and lies of the highest
order. It is never about justice though it gives the appearance of
justice. There is no justice!
The elite are exploiting the goodwill, reputation, funds and power of
big institutions to cheat, to fraud, to scam for their own benefits. In
the JP Morgan case, and many other related financial frauds during the
financial meltdown, the top management of these financial institutions
devised and designed fraudulent notes, CDOs and all kinds of gambling
chits in the form of derivatives to cheat the people, the funds and also
high net worth customers. And when they were successful, they paid
themselves crazy and walked around like gods.
When they were caught with their crimes, with their hands in the cookie
jars, they used the funds of the institutions to pay for the fines. The
guilty party is the institution, no the management. And the money is
from the shareholders, not theirs. The shareholders have to pay for
their crimes, for their salaries and big bonuses. They have no personal
responsibility and accountability. To them, they can cheat and forge all
kinds of dubious products and instruments, and they win in all ways.
The masses and shareholders are the losers. It is head they win and tail
the masses, shareholders and the main street will lose.
They will not be caught to pay for their wrong doings. They have the law
enforcers in their pockets, paid by them to share the loot. And they
are repeating their crimes in bigger ways since then, with the help of
the law and lawmakers, that they will not be prosecuted or persecuted.
They are the modern day bandits and crooks in suits and ties. They can
do not wrong and are above the laws. Many billions will be coughed out
from the banks and financial institutions to pay for their crime, now
passed to the banks and financial institutions.
Where is the justice? There is no justice.The bank pays the fine and the criminals keep their loots.
Looks like the mini-bond type saga is still not yet over for JP Morgan.
ReplyDeleteUnlike Singapore, it seems American government don't know how to "move on".
SOURCE:
---------------
The criminal probe relates to whether JPMorgan misrepresented the quality of the mortgages it was packaging into bonds and selling to investors.
http://finance.yahoo.com/news/jpmorgan-ending-criminal-probe-proves-020113963.html
Readbean,
ReplyDeleteYou and many pointing fingers at JP Morgan, maybe including Citibank, Bank America, Deutsche Morgan Grenfell, AIA, Goldman Sachs, Hedges Funds, etc?
These are the crooks that cooked the books and millions got screwed. Now, you may not like me to bring up "axe to grind" - Tan Jee Say and Tan Kin Liang are among Sinkies seeking opportunists again.,.
JC
All the big banks and hedge funds are doing the same and claimed to have made huge profits to justify paying themselves big salaries, big bonuses, share options etc etc. Then when cannot cover anymore, declared big losses like during the last financial crisis.
ReplyDeleteThe whole thing is repeating in bigger ways. Remember that before the last financial crisis they were all repeating big profits only to declare near insolvency.
All the big time crooks.
There are many reasons why Bible, Koran, and all other religion hate usury. Singapore is so miserable because all our elites have shylock background.
ReplyDeleteLets not talk about the evilness of Hitler first. Before Hitler came to power, Germany has all sorts of economic trouble. After Hitler, suddenly there is "solution" for everything.
Without Hitler, Germany was bullied and she suffered hyper-inflation and great depression. After Hitler, Germany was the strongest nation in Europe.
The problem of pre WW2 Germany lies in speculators and bankers. When Hitler get rid of them, Germany became strong again.
I have read books about many Nazi elites who happen to survive WW2. They loath bankers of West Germany then, even though West Germany was the least finanicalize in Europe.
The dirty tricks of bankers are remembered in today Germany's elite. Unlike UK, Germany is able to resist its bankers to a large extend.
Hi Veritas. the problem then was just Germany. Now the bankers are in every big city across the world and robbing everyone by their lemon schemes. And best, the govts are in cahoot and allowed them to do it.
ReplyDeleteAfter the financial crisis, they have not learnt anything and it was a reset to start the game all over. The bankers are going to destroy the whole financial system across the world. Singapore will be caught right in the middle of this storm.
Hi RB,
ReplyDeleteThere are solutions to all these problem. Today, all elites tell us we must "austerity", we must unemployed...etc that is bullshit.
And now Keynes theory is vilified as excessive spending, another bullshit.
When Hitler came to power in 1933, he face 10x more problem than Obama. Just 5 years under Hitler, Germany solved all her problem. Nazi economics are still a taboo in all major centers of learning. It is painstaking to research on Nazi economics as that will expose the lies of status quo.
Hitler, however bad he is, has shown everyone that bad economy is due to elites. Bad economy can be resolve as long as patriot take over a country.
I must agree that Hitler did wonders to revive a dying Germany. On this point the Germans should be proud of him.
ReplyDeleteI have took a lot of pain studying Hitler and Jews. Turns out, the truth was not what mainstream books try to portray.
ReplyDeleteThe wonders of Hitler was simple. Wealth redistribution via fiat money. In another "Marxism". Today Lim Swee Say and PAP clowns say "nevermind inequality". They fail their economics.
In a close economics system, if a boss produce $100, he must pay his workers $100. Else, his goods will not sell. Hitler got this fact right -- economics equality.
What happen under inequality as Kuan Yew-ism. If the boss produce $100 and pay workers $1?
Kuan Yew can still sell his goods-- in a condition that the workers be put into debt. That is the whole reason for world's debt problem.
Hitler already knew it long time ago. Kuan Yew and clown is just kicking the can down the road by piling and piling debt, and hope it goes away.
I would like to blog more frequently about this topic but I do not have time.
What can we do when the top politicians are drinking from the same cess pool as the big crooks? The big fine is just a big show of letting you know that something is being done, but actually nothing has been done to correct the corrupt practices. Just shifting the ill gotten gains from the right pocket to the left pocket. And it will continue to repeat itself.
ReplyDeleteNothing can be done! Absolutely nothing! Just wait for it all to end. It will end some day, knowing that the debt ceiling cannot continue to be pushed higher and higher forever.
Piling debt is the American model. The Americans cannot runaway. They are going to drown by their debt that they hoped to wipe away. They think they are smart to cheat the world. The rest of the world that hold T Bonds are not stupid and are working on how to protect their interests.
ReplyDeleteThe Americans are digging their own graves. Only they can destroy themselves, exactly like only the PAP can destroy themselves. There are no strong opponents or opposition to destroy them.
They can continue with their silly game which they believe is very smart and the right thing to do, create more inequality and more debt for the people.
In a close system, if you produce $100 and pay your workers $1, you got to force them to borrow so that you can sell your wares. The elites knew this very well.
ReplyDeleteWhat if the people self-austerity and dont borrow. The Chinese are frugal and hate debt. World status quo among them, Kuan Yew and clowns will then come up with other evil plan to force people into debt.
1) Extract rent through monopoly
The college, healthcare, housing, are good source of monopoly that can put people in debt.
2) Reward speculator
Kuan Yew today corrupt us so much that we think debt is good, and saving is bad. How he do it? By rewarding highly leverage speculator especially those meddling with property. If you go to debt and buy a lot of property on the day Kuan Yew came to power, you are "talent". If you save and save, you are stupid.
This got nothing to do with demand and supply, but by manipulating interest rate and currency.
The PAP system is coming to an end soon. Hope Kuan Yew will see all his wet dream collapse before he is boxed up.
Hitler print fiat also. But there are differences with Hitler and Bernanke.
ReplyDeleteWhen Hitler print, he give it to the poor. So the more Hitler print, the rich get less richer. The whole economy prosper.
When FED print, they give it to banks and rich. The poor become poorer. Today FED fake saving economy by giving monies to bank. That will only make thing worse.
In fact, FED can print and print and deposit $1 million into everyone's account. Economy will pick up immediately.
Me sees no difference amongst crooks, businessfolks, professionals such as doctor, lawyer, teacher and ruler.
ReplyDeleteThe peasants are as uniform as well, all daft and meek.
The elites are greedy, so they mine the system.
ReplyDeleteThe poor are greedy too, so they fall into traps.
The greedy elites will died rich, but cannot bring a single cent along; while his wealth will be wasted on his children & children children.
The poor will died penniless, but in death no difference from the rich.
Greed is borderless. Jews & gentiles all included.
The days of man is many sorrows, fleeting & vain, when without hope in God.
Rb, well done, you have it again. The loonies are all out today, the biggest being the Mati guy. Though obviously there are some logical ones too as always. The bad, the good and the greedy.
ReplyDelete>>507pm
ReplyDeleteBut the rich will pass on, besides their wealth, their ruthlessness to their mighty next generation that will make many miserable. Thats why they have to be stopped.
If someones steals for food for his family because they are all hungry, without roof and out in the freezing cold, is that still a crime?
THis world is full of bullshits.
Ha ha ha, their 3rd generation may be too smart to be the last one holding the " shits " when all come crashing down. The foundation has shaken too much last 29 years. There may not be much buffer or very long spell left before potential successors are presumably "taken to tasks" by turn of historical wind.
ReplyDeleteHahaha
ReplyDeleteLast I heard was the Singapore education system is going to teach our kids how to handle finance and be prudent. What a joke! For one whole generation they have been preaching to sinkies that for the economy to prosper people must spend, spend and spend and the best situation is to be in debt, which is you must owe the bank to be someone that keeps up with the Joneses.
You expect teachers and parents fed on this diet, going forward, trying to teach kids how to manage money. This must be the mother of all jokes.
The 3rd generations could be already overseas for good.
ReplyDeleteOne Mr Goodyear might have returned to nowhere after working in GIC for a short while. He was like a vacuum cleaner, all dirt are in him.
There are likely other vacuum cleaners, some obsolete ones that will be incinerated soon and all dirt goes with them.
死无对证。
Hi!
ReplyDeleteI'm a bank.
I will pay $13 billion dollars in fines.
But that does not mean I'm guilty hor!
Hi!
I'm a talent.
You have to pay me a million dollar salary to keep me honest.
But that does not mean I am corrupt hor!
Lee Kuan Yew is a consultant for JP Morgan.
ReplyDeleteThey picked the "right" guy ;-)
JP Morgan is 'using' the Right Guy for It's businesses.
ReplyDeleteJP Morgan is using the Biggest Gangster for its organised criminal enterprises. ;-)
ReplyDelete